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ERC Loan Program

Having an energy efficient home not only conserves electricity, but helps to keep your utility bills as low as possible. Sometimes making improvements to your home is necessary to make it more energy efficient, and sometimes those improvements can be somewhat costly. To help its members afford beneficial energy efficient improvements, Pea River Electric is happy to offer Energy Resource Conservation (ERC) loans available only to members of the Cooperative specifically for their primary residence.

The present interest rate for these loans is 8 percent.  Members can borrow up to $6,000 on a signature loan with approved credit.  The minimum amount a member can borrow is $300 and the maximum amount is $6,000.  Monthly payments will be added to the members electric bill for the term of the loan.

Repayment Terms    

$300-$1,000        Not more than 24 months

$1,011-$2,000     Not more than 36 months

$2,001-$3,000     Not more than 48 months

$3,001-$4,000     Not more than 60 months

$4,001-$6,000     Not more than 72 months

If a cooperative member does the improvement work themselves, financing will be limited to the cost of materials and equipment.  ERC loans are only available for energy conservation work done to already existing structures.  Loans can be used to finance the following energy efficient immprovements:

  • Electric heat pump, Geo-thermal, Dual Fuel Heat Pumps and Mini-Split Systems (high efficiency and installed to meet cooperative standards)
  • Caulking
  • Weatherstripping
  • Ceiling Insulation
  • Wall Insulation
  • Floor Insulation
  • Duct Insulation
  • Pipe Insulation
  • Water Heater Insulation
  • Storm Windows
  • Thermal Windows
  • Storm or Thermal Doors
  • Mobile Skirting or Underpinning for Manufactured Homes

  No loans will be provided to re-finance existing structures or to finance energy conservation measures in new structures.

For more details on qualifying for an ERC Loan, call a Member Services representative today at 1-800-264-7732 or e-mail Winston Jackson at or Chris Turner at

Click here to print out an ERC Loan Form


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